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ABN Amro faces dilemma over Geronzi

ABN Amro faces a dilemma on Tuesday when it must decide whether to lend its support again to the chairman of Capitalia, the Italian bank, who has twice been suspended over criminal proceedings.

The Dutch bank is Capitalia's largest shareholder and is in a tricky position. It could be awkward for its reputation to back the reinstatement of Cesare Geronzi, who in December was given a suspended jail term. Geronzi also publicly embarrassed ABN last year when he revealed that he had rebuffed takeover interest from the Dutch for Capitalia.

However, if ABN does not vote for Geronzi it could start a fierce governance battle at the Rome bank just months after the Dutch emerged victorious from a bruising fight for Antonveneta, another Italian bank.